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Key recommendations from interviewed SMEs
- Develop an IP strategy : define your goals and know the level of patent protection you need at each step
- Get professional help : enlist the support of a patent attorney if you do not have the skills in-house
- Choose the right patent attorney : he/she should possess good knowledge of your technical field, plus fair and efficient advice taking into account your resource constraints
- Do not underestimate the cost : attorney charges, translation costs, renewal and other fees add up
- Demand information : get your attorney to give you a clear overview of the filing process, waiting periods and costs involved in a patent application
- Adapt your filing strategy to your real business needs : do not patent everything and everywhere. Be selective and determine which ideas and markets are worth protection
- Do not view licensing as failure: it can be a lucrative alternative or adjacency to manufacturing your invention
- Revise your patent portfolio continuously : filter out patents with no business perspective, either for own exploitation or for licensing
- Start a technology and competitor watch process : use cost-free patent information and other sources (e.g. scientific publications, trade journals) both to inspire yourself and to identify potential infringers as soon as possible
- Communicate pro-actively : communicating the protection of your IP is a cost-efficient mean to reduce the potential risk of infringement
- Keep in touch with your licensee : regular contact and meetings provide you with information on your licensee’s activities and thus can prevent default
- Be sure of your case : if you are planning to fight an infringement make absolutely certain that you are in the right as a lawsuit could otherwise be a quick route to going out of business